Bath & Body Works (NYSE:BBWI) Price Target Raised to $48.00 at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its price target lifted by stock analysts at Wells Fargo & Company from $42.00 to $48.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 6.76% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group lifted their price target on shares of Bath & Body Works from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Telsey Advisory Group reissued an “outperform” rating and issued a $53.00 price target on shares of Bath & Body Works in a report on Friday, April 5th. Evercore ISI raised their target price on shares of Bath & Body Works from $30.00 to $45.00 and gave the stock an “in-line” rating in a research report on Friday, March 1st. Barclays lowered shares of Bath & Body Works from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $37.00 to $45.00 in a research note on Thursday, January 4th. Finally, Robert W. Baird raised their price objective on shares of Bath & Body Works from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Bath & Body Works currently has an average rating of “Hold” and an average price target of $46.73.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI traded down $0.17 during midday trading on Wednesday, hitting $44.96. The company’s stock had a trading volume of 516,565 shares, compared to its average volume of 2,727,369. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.43 and a beta of 1.86. Bath & Body Works has a fifty-two week low of $27.30 and a fifty-two week high of $50.34. The stock’s 50 day simple moving average is $46.17 and its 200 day simple moving average is $40.36.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Thursday, February 29th. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.21. Bath & Body Works had a net margin of 11.82% and a negative return on equity of 37.01%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the business earned $1.86 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts anticipate that Bath & Body Works will post 3.3 EPS for the current year.

Insider Activity at Bath & Body Works

In other news, insider Thomas E. Mazurek sold 4,285 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total transaction of $209,493.65. Following the completion of the sale, the insider now owns 45,992 shares in the company, valued at $2,248,548.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bath & Body Works

A number of large investors have recently modified their holdings of the company. Front Row Advisors LLC acquired a new position in Bath & Body Works during the 3rd quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new position in shares of Bath & Body Works during the third quarter valued at $27,000. Denali Advisors LLC purchased a new position in Bath & Body Works in the fourth quarter valued at about $27,000. GAMMA Investing LLC purchased a new position in Bath & Body Works in the fourth quarter valued at about $27,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Bath & Body Works in the fourth quarter worth about $35,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

About Bath & Body Works

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.